I have a situation that I couldn't find in forums. My daughter graduated with money left in her 529. She plans to get a PhD, in which case she will get a stipend, but it appears that she can still use her 529 money for room and board expenses.So we want to keep her 529 allocated to her. The stipend is not need-based so she would not apply for any financial aid. My son is a rising sophomore and we receive aid for him. It seems to me that I should convert my daughter's account from being owned by parents to being owned by her, so her balance will not count as our asset when filing for our son's aid.
Is there any downside to transferring her account to her under these circumstances?